National Bank of Abu Dhabi (NBAD) said the United Arab Emirates central bank had extended its deadline to comply with limits on commercial banks' lending to state-linked companies by six months.
The central bank unveiled the rules in April, introducing caps for loans made to local governments and their entities. Lenders had until Sept. 30 this year to comply with the rules.
"The (central bank) governor announced it was extended for six months at the last central bank meeting (with commercial banks in September)," Abdulla Saleh Abdulraheem, NBAD's deputy chief executive, told Reuters on Tuesday.
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